Has anyone else in Ritchie County been contacted by Pineridge/Pinewood Energy? We just signed with Antero 6 Months ago for 5 years, now this company wants to buy it. Don’t have any details yet, should we be wary?
Are you sure that they aren't trying to buy the minerals, not the lease? If they want to buy the lease, they would be contacting the company that you leased to. If someone is interested in producing your minerals (hence, the lease), why would you want to sell before you know if there is going to be production? We had many offers to BUY the minerals after we signed a LEASE.
They want to buy our rights. They talked to my uncle today. No way are we doing it.
Susan:
Companies wanting to purchase minerals from mineral rights owners is a very common practice. In most cases that I am aware of, these companies offer far less than what the minerals are worth. Sometimes I believe that they are trying to locate that specific mineral owner who is immediate need of cash.
Thanks. That is what I figured.
Some of them are worthless vultures. Others give fair offers. If someone is in immediate need of cash, or busted, they would probably welcome the call.
It would be interesting to hear how Mallory concludes that the buyers offer less than they are worth in most cases. To make that conclusion, you would need to be privy to every offer that has been made. Unless they post the offer here, or on some other site, those offers would be between the offeror and the owner. He does write, that he is aware of, but that doesn't mean necessarily that most mineral owners are low-balled. I'm also sure that a lot of goat pasture is bought, and overpaid for.